Aug 14, 2026 – 5.00amThe first time Stephen Mayne stops talking is just before he starts to cry.We’re at the RACV Club on Melbourne’s Bourke Street on a chilly Thursday in July. Almost seven years ago, his 50th birthday lunch took place in the wood-panelled private dining room opposite where we sit.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Grace LaganMarkets reporterGrace Lagan is a markets reporter at The Australian Financial Review covering equities, currencies, commodities and monetary policy. She holds a first-class honours degree in economics from the University of Sydney, where her thesis examined intergenerational wealth transfers and home ownership. She is completing a law degree with a focus on media and defamation law. Before joining the AFR she spent two years as a paralegal in Nine’s editorial legal team.Fetching latest articles